Securities Snapshot - April 2015

OSC

OSC Released Draft Statement of Priorities

On April 2, 2016 the OSC issued Notice 11-771, Draft Statement of Priorities for the Financial Year to End March 31, 2016. Comments are due by June 1, 2015. Challenges and issues noted by the OSC include:

• Demographics, including a growing seniors population which generate investor focused issues;
• A recognition that:
  
  
  • Reliance on advice is expected to grow to meet changing investor profiles which includes a shift from defined benefit to defined contribution pension plans. Issues related to market conduct, firm compliance cultures and how advisors meet the interests of their client are areas of focus;
  • A well-functioning investor/advisor relationship is critical, which includes improving the standards of financial advice, raising competency and increasing transparency regarding financial advice;